Brazilian stock market becomes first in Latin America to top $1 trillion
More evidence of Brazil's economic strength has been presented with the news that the Brazilian stock market has reached a value of $1 trillion (£502 billion), becoming the first Latin American economy do so.
The country is now one of select grouping of 15 countries with trillion-dollar stock markets - a reflection of how the country's economy has transformed from a debt-ridden, low-growth vehicle in 2001 into a prosperous country marked by sustained growth.
And with increasing numbers of foreign businesses looking to invest in Brazil, the property market could also benefit from these economic developments.
Fabio Spinola, a fund manager with Quest Investmentos, told the Bloomberg news agency: "Brazil provides growth opportunities that investors went through in other markets. Investors are buying that expectation.''
Strong metal prices and an expanding consumer base were also cited as reasons for the expansion of the Brazilian stock market.
Brazil's economy has widely been regarded as a success story over the last few years by some economists. Consequently, finance ratings company Moody's recently announced that Brazil's investment rating has been earmarked for an upgrade.
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